All Forum Posts by: Account Closed

No worries. We will catch up soon. Congrats on the new place.

Are any vegetarians joining us? (asking for food ordering purposes)

@Chris Vail Are you coming on Thursday?

Who else is attending? Meeting will be on the 3rd floor. Please let me know so I can make sure we have enough food and drink :-)

I agree with @Sarah D.. If i were in your situation I would buy a house for my kid to live in during college...assuming $100k is enough for a down payment. My friend did that in Riverside, CA and I was jealous of him then and still jealous of him now.  He purchased a home sophomore year, lived in it and rented out the rooms to friends until he graduated. He sold it after graduation but in your case, you could keep it and continue the train a moving.

It helps your child learn about finances and possibly save money while also providing a low-risk avenue into REI.

http://www.cityofsacramento.org/Finance/Revenue/Sh...

My point is simple: Hugo could easily offer his hypothetical rental for stays longer than 31 days at a time. The proximity of Iron Works to the stadium would be a benefit because his tenants would want to be close to the "action." Al has demonstrated this model can produce net revenues that exceed the traditional rental model. This is not done via AirBnB; however, I thought it was important for Hugo to understand that there is another option out there for him, should he embark down this path.

Sacramento's recently enacted rules related to short-term rentals can easily be legally overcome. @Al Williamson is the guru on this topic and he's found a business model that works if your rental stays are for 31 days or more. It's working great for him and it's legal. Feel free to reach out to him.

Full disclosure: I am an attorney, but this is not legal advice.

You can go to the county assessor's office and locate the owner via the APN (assessor's parcel number). You'll have to pay whatever associated fees but it is a common practice. 

I think it would be hard to get rents pinned down but I'd imagine something around $2/sq. foot. It could also be a long-term rental that could get even larger rents. @Al Williamson is the guru of those rentals. 

The prices range from mid-$200k to almost $500k so maybe I smaller unit would pencil out. It would take a rather sizeable down payment to cash flow. It's strictly a numbers game. I'd be more interested in how these new units impact older home prices in the surrounding area. That might be the real opportunity. But I'm sure you'd have NO PROBLEM finding quality renters.

Great thread!  Thanks for asking the question @Patrick Boutin

I agree with @don konipol. Only thing I'll add is on the zoning issue. A duplex in a R-1 area could be perfectly fine. For example, the City of Sacramento uses the R-1 designation for SFR and duplexes. The real issue is whether the garage conversion is permitted. Part of permitting is zoning but it also includes all the other stuff that goes into getting a permit. It sounds like ithe property is permitted but I'd be 100% sure by talking to the county myself.

Good luck on your decision! 

Can't wait!